In response to a weakening US dollar on international markets on Wednesday, the rupee gained 6 paise to settle at 82.74 (provisional). Analysts claim that while rises in crude oil prices restrained the rupee’s upward potential, FII inflows into the capital market and robust equity markets supported the local currency. In the face of overnight…
According to a domestic ratings business, the revenue growth of the Indian IT services sector will decrease to 3% in the current fiscal year from 9.2% in the prior fiscal year. According to ICRA Ratings, this fiscal year’s profitability would also suffer, and the operating profit margin will drop to 20–21%, a reduction of up…
Due to a recovery in the price of crude oil and the dollar on international markets, the rupee fell 8 paise to end the day at 82.71 (provisional) against the US dollar on Tuesday. According to FX dealers, foreign fund withdrawals from the equity markets also affected the outlook for the rupee. In the face…
Chemical industry operators are shifting their focus to specialty chemicals in an effort to increase margins in light of the current slowdown in the chemical sector. According to recent industry data, the chemical industry as a whole has experienced negative growth over the last three quarters. In contrast, the specialized chemicals industry has experienced expansion…
In response to statements of intervention by the central bank and inflows of foreign capital, the rupee defied a four-week downturn by rising by more than half a percentage point. However, in light of rising food prices and unequal rainfall distribution that call for vigilant monitoring, the RBI’s minutes sounded hawkish. While local benchmark indices…
According to government data, foreign direct investment (FDI) into India decreased 34% to USD 10.94 billion during April to June 2023–24, with fewer inflows in computer hardware and software, telecom, auto, and pharma being the main drivers. During April to June 2022–2023, FDI inflows totaled USD 16.58 billion. The amount of inflows between January and…
Prior to Federal Reserve Chairman Jerome Powell’s address later that day in Jackson Hole, Wyoming, the rupee entered the day on August 25 slightly down against the dollar, reflecting declines in its Asian counterparts. The domestic currency was trading at 82.64 per dollar in the morning session, down 0.10 percent from its previous close of…
On Thursday, Suzlon Group announced that it has received a new contract for the building of a 31.5 MW wind power project for Integrum Energy Infrastructure Private Limited. Suzlon stated in a regulatory filing that it would install 15 of its S120-140m wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower with a…
As a result of low cane yields due to a lack of rain, India is anticipated to forbid mills from exporting sugar starting in the upcoming season in October, suspending shipments for the first time in seven years. India’s exit from the global market would probably push up benchmark prices in New York and London,…
On Wednesday, Larsen & Toubro reported that the Middle East has given it significant orders for its Power Transmission & Distribution Business in the region of Rs 2500 crore–Rs 5000 crore. According to reports from the United Arab Emirates, a reputable service provider to the energy sector has given the company a contract to build…
